Investing in Hedge Funds, Revised and Updated Edition

Hedge funds are in the news and on the minds of sophisticated
investors more than ever. Investors have questions about how the
funds are structured, where the assets are allocated, and whether
hedge funds can truly act as a hedge against market risk. The
answers are all here in Investing in Hedge Funds.

Until recently, much of what makes hedge funds tick has been
closely guarded--the intellectual property of Wall Street's
investment elite. In this updated and revised text, Joseph G.
Nicholas, founder and chairman of the leading industry information
provider Hedge Fund Research, Inc., travels inside the hedge fund
marketplace to explain the alternative investment strategies of top
fund managers, providing clear descriptions of how to access these
funds and where they're headed. It's a complete guide that everyone
investing in hedge funds should study closely.

Joseph G. Nicholas, JD, is founder and chairman of HFR Asset Management, LLC, a leading fund of funds, and Hedge Fund Research, Inc., the industry's leading supplier of hedge fund data. The author of Market-Neutral Investing and Hedge Fund of Funds Investing, he is a frequent lecturer and media expert on topics relating to alternative investments.

"This book tells all. It explains how [hedge funds] work. This
is a serious and important book on the subject and must be read by
any serious investor." (Tradersworld magazine)

"Nicholas has done an invaluable service in laying out
exactly how hedge funds work, who runs them, how they incorporate,
their benefits and risks, and how to go about selecting one."
(TheStreet.com)

"I have yet to find a book which does such a good job of
demystifying an area which has been kept deliberately opaque (with
good reason) by its players." (AIMA (Alternative Investment
Management Association) Newsletter)

"In light of the dramatic increase of investments in hedge funds,
the recent media attention, and the widespread need to better
understand these complex strategies, Joe Nicholas has created a
key investor guide to hedge funds, including the unique and
valuable perspective of having top hedge fund managers describe
what they do in their own words."—Timothy J. LeachChief Investment Officer, U.S. Trust Corp.

"Investing in Hedge Funds is the first comprehensive
study of what hedge funds are and how they work. This is an
essential book for all investors curious about alternative
investment strategies. Joseph Nicholas details the range of
investment strategies pursued by hedge fund managers and writes in
a clear, lucid style. I highly recommend this book to academics and
professionals who want to learn about hedge funds."—Professor William N. GoetzmannDirector, International Center for Finance, Yale School of
Management

"Joseph Nicholas provides an extraordinary analysis of hedge
funds that clearly explains what they are and how they work.
This book is a must-read for anyone looking to reduce investment
risks and increase performance."—William B. Nicholson
Chairman and Chief Executive Officer, Capital Resource Advisors

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